Mexican state energy company Pemex said on Friday it had received billions of dollars from the government to help strengthen its financial position and pay back mounting debt as well as pay for its new Olmeca-Dos Bocas Refinery.
Pemex has for decades struggled with a heavy tax burden and previous support - in the form of cash injections and tax cuts - has largely gone towards keeping the world's most indebted energy company alive.
In October, Pemex received 55.9 billion pesos ($3.2 billion) from the government to strengthen its financial position, accounts show. Separately, Pemex received 71.7 billion pesos over the quarter for debt amortizations.
"It is support never seen before," said Octavio Romero, chief executive officer, in a call with investors.
Pemex had also received $5.8 billion for the Olmeca-Dos Bocas refinery by the end of September.
The quarterly results come as lawmakers debate a lower tax bill for Pemex, after the lower house last week approved a cut to Pemex's profit-sharing DUC tax - effectively a tax paid to the government and the largest of several taxes - to 30% from its current 40%.
President Andres Manuel Lopez Obrador, who has pledged to revive the ailing company, has championed a gradual easing of the tax from a high of 65%.
Lopez Obrador has also sought to grow the company's production of motor fuels, while weaning the country off foreign supplies.
Pemex reported a third-quarter net loss of 79.13 billion pesos on revenue of 462 billion pesos.
Like most of its peers, Pemex largely operates in U.S. dollars, but significant expenses are paid in the local peso currency, including worker salaries.
($1 = 17.4279 Mexican pesos at end-September)
